Filing Details

 

CUSIP No. 71377G100

 

1	NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON   Sports Direct International plc
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☒
3	SEC USE ONLY
4	SOURCE OF FUNDS   WC
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
6	CITIZENSHIP OR PLACE OF ORGANIZATION     United Kingdom
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER    *
		8	SHARED VOTING POWER   *
		9	SOLE DISPOSITIVE POWER    *
		10	SHARED DISPOSITIVE POWER   *
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,500,000*
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)   5.5%*
14	TYPE OF REPORTING PERSON   CO

*Beneficial ownership is disclaimed as interests are economic interests held through contracts for differences, the terms of which do not confer voting rights or dispositive power.

  

Item 1. Security and Issuer

Common Stock

Performance Sports Group Ltd.

100 Domain Drive

Exeter, NH 03833

Item 2. Identity and Background

Name: Sports Direct International plc

Place of organization: United Kingdom

Principal business: Sports retailer and owner of sport, fashion and lifestyle brands

Address: Sports Direct International plc, Unit A Brook Park East, Shirebrook NG20 8RY, United Kingdom

Convictions: None

Judgments, orders and decrees with respect to US federal or state securities laws: None

Item 3. Source and Amount of Funds or Other Consideration

The economic interests in the shares of Common Stock of the Issuer (the “Shares”) were acquired pursuant to the contracts for differences (“CFDs”) entered into with Monecor (London) Limited, trading as ETX Capital, (“ETX Capital”) listed in Item 5 below. The source of funds for the acquisition of such interests is working capital.

Item 4. Purpose of Transaction

The purpose of the acquisition of the CFDs is for investment, consistent with other investments made by the Reporting Person in the sector in which it operates. Depending on market conditions, including by reference to available volume and price volatility, as well as other factors, the Reporting Person may take such further actions with respect to the Shares of the Issuer as it deems appropriate. This may include, but is not limited to, purchasing additional interests in the Shares, selling some or all of its interests in the Shares, engaging in any other transactions with respect to the Shares (in all cases whether directly or indirectly) and/or making proposals to the Issuer with respect to changes to the assets, business operations, capitalization or corporate structure of the Issuer. The Reporting Person does not expect to amend the Schedule 13D with respect to any such potential actions, unless and until such time as required by applicable law.

Item 5. Interest in Securities of the Issuer

(a) The Reporting Person has an indirect economic interest in 2,500,000 Shares, representing a 5.49% economic interest in the Shares. Such interest is held through the CFDs with ETX Capital listed in paragraph (c) of this Item 5.

(b) Pursuant to the CFDs, the Reporting Person does not have the power to vote or direct the vote, or power to dispose or direct the disposition, of any of the Shares and, accordingly, beneficial ownership is disclaimed pursuant to Rule 13d-4.

(c) The following table lists each of the purchases and sales by the Reporting Person of CFDs in respect of the Shares during the past 60 days. Each of these CFDs were entered into with ETX Capital and provide that the parties will exchange the difference in the value of the Shares at the time at which the contract is agreed and the time at which it is closed. There were no other transactions effected by the Reporting Person in the Shares or other indirect interests in the Shares during this period.

 

 

Date of transaction				Type of transaction				Number of Shares subject to the CFD				Price per Share at the time CFD agreed
	15 June 2016				Purchase				45,450				310.28
	16 June 2016				Purchase				80,019				301.20
	17 June 2016				Purchase				38,845				302.17
	20 June 2016				Purchase				50,050				311.85
	21 June 2016				Purchase				45,526				300.29
	22 June 2016				Purchase				38,500				299.81
	23 June 2016				Purchase				31,000				301.68
	24 June 2016				Purchase				55,936				293.46
	27 June 2016				Purchase				100,000				280.74
	28 June 2016				Purchase				36,053				289.99
	29 June 2016				Purchase				25,965				299.22
	30 June 2016				Purchase				20,150				299.86
	05 July 2016				Purchase				51,541				294.73
	06 July 2016				Purchase				31,687				298.30
	07 July 2016				Purchase				35,795				293.15
	08 July 2016				Purchase				31,000				295.79
	13 July 2016				Purchase				27,000				299.09
	14 July 2016				Purchase				3,100				300.50
	22 July 2016				Purchase				8,750				300.30
	15 August 2016				Purchase				34,500				275.77

	15 August 2016				Purchase				100,000				194.95
	15 August 2016				Purchase				130,000				170.39
	15 August 2016				Purchase				50,900				145.81
	16 August 2016				Sale				50,900				204.99

 

(d) Not known.

(e) Not applicable. 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

None 

 

Item 7. Material to be Filed as Exhibits.

 

None

   

 

  

 

SIGNATURE

 

After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, such person hereby certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 17, 2016

 

Sports Direct International plc

 

 

By: /s/ Cameron Olsen                                     

       Name: Cameron Olsen

       Title: Company Secretary